{"schema_version":"1.0","name":"BREM Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"321010cd-1846-4ad4-a65b-a0a819136559","symbol":"BREM","name":"IQ BEAR EMERGING MARKETS ETF","exchange":"NASDAQ","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","sections":[{"name":"Executive technical read","description":"Completed-week price state, Market Dynamics alignment, current price and the principal technical KPIs."},{"name":"Market Dynamics","description":"The proprietary relationship between completed price, underlying support, positioning zones and confirmation."},{"name":"Ticker evidence record","description":"Current application, comparable historical conditions, zone outcomes and practical review conditions."},{"name":"Adaptive technical evidence","description":"Six condition-selected views: Trend, acceptance and volatility envelope, Activity pressure and cumulative balance, Range pressure and compression, Acceleration, deceleration and rollover, Range position and boundary pressure, Directional strength and control."},{"name":"SM Tape Intelligence","description":"Resolved consensus with Control, Force, Direction and Confirmation gauges against completed price."},{"name":"Research boundary","description":"Dated scope, interpretation limits, methodology version and source references."}],"research":{"available":true,"asOf":"2026-08-21","observations":45,"displayedObservations":45,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","evidenceAlignment":{"status":"Price ahead of underlying support","headline":"The upward price response is leading Market Dynamics","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","take":"Treat the gap as an early-downside risk watch. Stronger Market Dynamics would confirm the price move; a weaker price response would confirm that the gap is closing through correction.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"values":[-0.036683,-0.064768,-0.175187,-0.184467,-0.110453,-0.043501,0.165907,0.352728,0.449981,0.436195,0.405538,0.255754,0.06089,-0.113192,-0.251964,-0.315274,-0.268959],"opens":[50.427972,50.504162,50.875152,50.281073,50.60705,51.044243,50.816108,51.530359,51.427286,51.080337,51.142205,50.863501,50.808755,50.564889,50.18,50.85,50.7403],"highs":[50.608039,50.949449,50.875152,50.51356,51.07796,51.13687,51.327794,51.636219,51.477032,51.085289,51.152158,50.972992,50.808755,50.783871,50.89,50.96,50.985],"lows":[50.2361,50.43491,50.431843,49.968254,50.595178,50.934802,50.760691,51.482006,51.218353,50.933177,50.918246,50.763963,50.400752,50.311866,50.18,50.7405,50.65],"closes":[50.608039,50.883759,50.431843,50.51356,51.06411,50.934802,51.278048,51.581498,51.307896,51.072031,51.057598,50.843593,50.400752,50.311866,50.8651,50.8926,50.81],"hoverRows":[[{"label":"Open","value":"50.4","className":"is-ohlc","compact":true},{"label":"High","value":"50.6","className":"is-ohlc","compact":true},{"label":"Low","value":"50.2","className":"is-ohlc","compact":true},{"label":"Close","value":"50.6","className":"is-ohlc","compact":true},{"label":"Market 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weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"50.9","className":"is-ohlc","compact":true},{"label":"High","value":"51.0","className":"is-ohlc","compact":true},{"label":"Low","value":"50.7","className":"is-ohlc","compact":true},{"label":"Close","value":"50.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.32","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"50.7","className":"is-ohlc","compact":true},{"label":"High","value":"51.0","className":"is-ohlc","compact":true},{"label":"Low","value":"50.6","className":"is-ohlc","compact":true},{"label":"Close","value":"50.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.27","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[50.235688,51.657676],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.268959,"state":"Price is moving ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"strengthening","fourWeekDirection":"weakening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"price":{"label":"Price is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"diagnosis":{"label":"Price response ahead of support","detail":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","annotations":[{"label":"Current tape relationship","value":"Price response ahead of support","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","tone":"neutral"},{"label":"Latest positioning marker","value":"None in view","detail":"Entering the lower zone alone does not create a positioning confirmation.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Lagging price","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":17,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"close":[48.4042,48.6686,48.9331,48.7811,48.8762,48.908,49.1975,49.3393,49.378,49.5645,49.7109,49.6617,49.9491,49.9536,50.1287,50.2747,50.3965,50.8758,50.8954,50.7829,50.1509,49.787,48.9725,48.791,49.3059,50.2603,51.1503,50.7845,50.608,50.8838,50.4318,50.5136,51.0641,50.9348,51.278,51.5815,51.3079,51.072,51.0576,50.8436,50.4008,50.3119,50.8651,50.8926,50.81],"consensus":[100.0,70.5878,40.5404,-24.4891,71.1547,56.7928,75.2678,82.8823,66.6339,63.067,71.772,25.0323,78.4602,53.3062,80.9376,70.9395,70.3645,89.074,41.0882,13.9172,-43.0816,-58.5871,-77.3504,-71.4977,0.0,57.4395,77.8147,10.8528,33.9887,51.1486,-27.7068,17.2453,58.2791,0.0,58.4322,51.2302,9.3437,10.2464,0.0,-22.1347,-57.8536,-47.6016,34.6836,10.9332,1.183],"supportDates":["2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"control":[null,null,null,null,null,56.7834,84.5636,78.6149,67.6442,59.3304,75.6008,3.5255,77.6133,48.9678,81.9196,64.2148,66.3491,93.5404,30.7865,3.4899,-39.6789,-51.049,-70.3153,-66.5215,0.0,52.3796,82.6526,4.487,33.8972,57.0805,-29.3901,28.2526,68.3382,0.0,62.1266,52.4202,4.4758,17.5242,0.0,-17.3188,-61.6833,-45.1695,41.6921,16.172,1.1026],"force":[100.0,70.5878,40.5404,-24.4891,33.1065,32.5446,51.8508,88.1905,43.9421,40.6105,48.0236,18.4937,70.9579,19.3183,77.3461,63.7063,75.4508,98.7084,7.4233,40.7081,-96.7195,-81.877,-99.5302,-78.5834,0.0,93.9068,97.8151,24.6358,16.1922,42.6263,-53.6987,19.373,57.3279,0.0,58.8596,38.1951,27.1225,18.8831,0.0,-28.2855,-62.6743,-45.2212,79.7747,9.1972,10.748],"direction":[null,null,null,null,98.332,74.1236,81.3703,83.9677,81.6877,83.3778,84.3594,80.7014,84.7869,82.5415,82.3807,83.7913,71.3205,77.0877,76.9079,72.829,-8.6576,-50.5665,-69.5479,-72.1237,0.0,37.1743,57.9998,53.7331,46.8052,50.4567,-7.2173,3.1459,47.4626,0.0,53.9047,59.1811,40.9543,22.7357,0.0,-23.2451,-50.0334,-52.0816,5.534,6.186,12.3172],"intensity":[null,null,null,null,25.0,20.0,83.3333,57.1429,12.5,100.0,40.0,9.0909,83.3333,61.5385,64.2857,100.0,31.25,94.1176,88.8889,26.3158,100.0,80.9524,100.0,91.3043,83.3333,100.0,96.1538,70.3704,75.0,51.7241,66.6667,70.9677,87.5,45.4545,50.0,91.4286,33.3333,56.7568,2.6316,30.7692,65.0,12.1951,83.3333,83.7209,13.6364],"confirmation":[54.6667,45.2548,35.6396,30.5032,66.3635,85.4348,91.2304,94.7491,88.6159,87.554,90.1849,10.9569,92.8915,84.0883,93.7756,90.5827,90.7328,96.7292,57.6126,12.4829,83.4727,87.5725,93.5353,91.171,38.6539,87.5691,93.4365,8.838,78.3354,84.0174,54.966,50.749,86.4671,5.9721,86.655,83.9783,7.7389,28.9753,25.0976,75.3439,86.6017,83.197,58.8801,48.6992,1.8561],"persistence":[null,null,100.0,50.0,60.0,66.6667,71.4286,75.0,75.0,75.0,75.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,50.0,25.0,0.0,12.5,12.5,12.5,12.5,12.5,37.5,37.5,62.5,75.0,62.5,62.5,62.5,62.5,62.5,75.0,50.0,25.0,12.5,12.5,12.5,0.0],"assessmentRisk":[null,null,null,null,14.0305,17.1315,8.8891,8.5076,16.6006,18.4606,14.0812,36.7177,10.7479,23.0415,9.3775,14.526,14.8077,5.4629,29.4546,42.9443,16.3212,20.672,11.3231,14.2501,51.7923,10.1204,11.0727,44.5237,32.2964,15.7142,29.9417,32.1711,4.8273,3.3214,17.2868,23.6537,20.4224,9.8229,28.1437,38.2363,20.8131,25.5458,43.5106,2.5051,42.962],"volumeParticipation":true,"latest":{"consensus":1.2,"control":1.1,"force":10.7,"direction":12.3,"confirmation":1.9,"persistence":0.0,"assessmentRisk":43.0,"intensity":13.6,"evidenceDepth":100},"analysis":{"status":"Price structure has stronger support","headline":"The gauges support the price-technical view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the upward price structure stronger support.","take":"Current assessment: price structure remains primary, but the disagreement lowers confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Control support is easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+1.2","detail":"Price structure has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+1.1","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+10.7","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+12.3","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"2/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"55.5","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"0.8%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"22.5","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"72%","detail":"location inside observed range","tone":"neutral"},{"label":"Adaptive set","value":"6 views","detail":"selected for the current tape","tone":"neutral"}],"charts":[{"key":"price","eyebrow":"Price architecture","title":"Trend, acceptance and volatility envelope","description":"Price is shown against fast and slow trend references with its current volatility envelope.","reason":"Selected as the anchor because price and its trend 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direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,0.345,0.37,0.3994,0.4295,0.4579,0.5132,0.5522,0.5675,0.5226,0.4524,0.3273,0.2111,0.1587,0.192,0.2869,0.3288,0.3438,0.3736,0.3567,0.3459,0.3774,0.3874,0.4183,0.4619,0.469,0.4504,0.4295,0.3912,0.3214,0.2559,0.2459,0.2374,0.2214],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.3906,0.4151,0.4426,0.4675,0.4786,0.4733,0.4441,0.3975,0.3498,0.3182,0.312,0.3153,0.321,0.3315,0.3366,0.3384,0.3462,0.3545,0.3672,0.3861,0.4027,0.4122,0.4157,0.4108,0.3929,0.3655,0.3416,0.3207,0.3009],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.0673,0.098,0.1096,0.1,0.044,-0.0209,-0.1168,-0.1864,-0.191,-0.1262,-0.0251,0.0135,0.0228,0.0421,0.0201,0.0074,0.0311,0.033,0.0511,0.0757,0.0663,0.0381,0.0138,-0.0196,-0.0715,-0.1096,-0.0957,-0.0834,-0.0794],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"]},{"key":"range","eyebrow":"Acceptance 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